Publications

Publications

Filter Results: (427) Arrow Down

Show Results For

← Page 6 of 427 Results →
  • April 2011
  • Article

Ownership Structure and the Cost of Corporate Borrowing

By: Chen Lin, Yue Ma, Paul Malatesta and Yuhai Xuan
This article identifies an important channel through which excess control rights affect firm value. Using a new, hand-collected data set on corporate ownership and control of 3,468 firms in 22 countries during the 1996-2008 period, we find that the cost of debt... View Details
Keywords: Borrowing and Debt; Cash Flow; Cost; Financing and Loans; Governance Controls; Ownership Stake; Business and Shareholder Relations
Related

    How Quantitative Easing Works: Evidence on the Refinancing Channel

    When LSAPs are needed the most, simply bending the yield curve through purchasing government debt is not effective for stimulating the mortgage market (a key sector of the economy for the transmission of monetary policy). Purchasing mortgage-backed... View Details

    • 2010
    • Other Unpublished Work

    Why Takeover Vulnerability Matters to Debtholders

    By: Joan Farre-Mensa
    Recent work documents that firms that are more vulnerable to takeover have higher borrowing costs. This paper investigates the reasons behind this stylized fact. My results show that firms with few antitakeover defenses face a higher cost of debt because lenders are... View Details
    Keywords: Acquisition; Borrowing and Debt; Cost; Equity; Banks and Banking; Investment Portfolio; Risk Management; Agreements and Arrangements; Business and Shareholder Relations; Conflict and Resolution
    Related
    • 24 Jun 2012
    • News

    Suggested Safeguards Irk Fund Industry

    • Research Summary

    Overview

    Professor Begenau’s research agenda is directed at better understanding how financial markets work and how they affect the real economy. She uses quantitative analysis to build both prescriptive and descriptive models concerning financial risk in banking, and she also... View Details
    • January 2018 (Revised March 2018)
    • Case

    Portugal: Can Socialism Survive?

    By: Richard H.K. Vietor and Haviland Sheldahl-Thomason
    Portugal was not ready to join the European Monetary Union in 1999. With strong unions, weak competitiveness, and a legacy of socialism, it could not compete with north-European countries. After borrowing extensively to fund deficits, Portugal went into debt crisis in... View Details
    Keywords: Economy; Financial Crisis; Economic Systems; Portugal
    Related
    • February 2023
    • Supplement

    Performance Management at Afreximbank (B)

    By: Robert S. Kaplan, Siko Sikochi, Anna Ngarachu and Namrata Arora
    Supplements the (A) case. Founded in October 1993, the Cairo-based African Export-Import Bank (Afreximbank) was a specialized continental financial institution designed to address the low level of intra-African trade, the decline in financial flows to Africa, the... View Details
    Keywords: COVID-19 Pandemic; Performance Evaluation; Organizational Culture; Crisis Management; Banking Industry; Africa
    Related
    • May 2013
    • Supplement

    Kinyuseisaku: Monetary Policy in Japan (C)

    By: Laura Alfaro and Hilary White
    Assuming office in December 2012, Prime Minister Shinzo Abe was determined to revive Japan's stagnating economy through an ambitious plan known as 'Abenomics.' Under the guidance of the newly appointed governor of the central bank, Haruhiko Kuroda, the Bank of Japan... View Details
    Keywords: Japan; Inflation Targeting; Inflation; Abenomics; Monetary Policy; Stimulus; Quantitative Easing; Government Bonds; Macroeconomics; Inflation and Deflation; Money; Economic Slowdown and Stagnation; Japan
    Related
    • March 2020 (Revised February 2023)
    • Case

    Performance Management at Afreximbank (A)

    By: Robert S. Kaplan, Siko Sikochi and Josh Steimle
    Based in Cairo, Afreximbank was founded in October 1993 as a specialized continental financial institution designed to address the low level of intra-African trade, the decline in financial flows to Africa, the worsening external debt situation of many African... View Details
    Keywords: Performance Management; Balanced Scorecard; Performance Expectations; Performance Evaluation; Performance Improvement; Organizational Culture; Strategy; Banking Industry; Africa; Egypt
    Related
    • 24 Sep 2024
    • Research & Ideas

    Why Small Businesses Deserve More Credit

    It’s Wall Street doctrine that small firms struggle to raise capital at reasonable rates and are often rejected for credit lines and loans because banks think their risk profile is too high. “If you really want to drive investment,... View Details
    Keywords: by Rachel Layne; Banking; Banking
    • 25 Oct 2020
    • Research & Ideas

    The Dark Side of Fintech Borrowing

    cards that are empty and they start using them again,” Di Maggio says. “And so leverage starts ramping up again, but now they have to repay both the credit card debt and the personal loan, which cause their defaults to skyrocket.” This... View Details
    Keywords: by Rachel Layne; Banking; Banking
    • November 2021 (Revised January 2024)
    • Case

    The Global Great Depression, 1929-1939

    By: Alberto Cavallo, Sophus A. Reinert and Federica Gabrieli
    The Great Depression was, by far, the worst economic contraction of the twentieth century, and some of the most important ideas about both fiscal and monetary policy in the second half of the century were developed in response to it. The economic collapse, which... View Details
    Keywords: Great Depression; Economic Conditions; Unemployment; Homelessness; Financial Crisis; History; Economy; Policy; Poverty; Social Issues; Economic Slowdown and Stagnation
    Related
    • October 1991 (Revised January 2002)
    • Case

    Butler Lumber Company

    By: Thomas R. Piper
    The Butler Lumber Co. is faced with a need for increased bank financing due to its rapid sales growth and low profitability. Students must determine the reasons for the rising bank borrowing, estimate the amount of borrowing needed, and assess the attractiveness of the... View Details
    Keywords: Commercial Banking; Financial Crisis; Borrowing and Debt; Financial Strategy; Financing and Loans; Capital Structure; Forecasting and Prediction
    Related

      Victoria Ivashina

      Victoria Ivashina is the Lovett-Learned Professor of Finance and Head of the Finance Unit at Harvard Business School. She also serves as a Research Associate at the National Bureau of Economic Research (NBER), a Research Fellow at the Center for Economic Policy... View Details

      Keywords: banking; banking; banking; banking; banking; banking
      • November 2011
      • Case

      Pacific Grove Spice Company

      By: William E. Fruhan and Craig Stephenson
      Pacific Grove Spice Company is a profitable, rapidly growing manufacturer, marketer, and distributor of quality spices and seasonings. The company's business model requires significant investment in accounts receivable, inventory, and fixed assets to support sales.... View Details
      Keywords: Capital Expenditures; Investments; Acquisitions; Securities Analysis; Debt Securities; Opportunities; Cost of Capital; Valuation; Investment; Capital Budgeting; Business Model; Cash Flow; Financing and Loans; Acquisition; Retail Industry; Food and Beverage Industry
      Related
      • June 2015 (Revised July 2016)
      • Case

      Gilbert Lumber Company

      By: Steven Rogers and Kenneth Cooper
      The Gilbert Lumber Co. is faced with a need for increased bank financing due to its rapid sales growth and low profitability. Students must determine the reasons for the rising bank borrowing, estimate the amount of borrowing needed, and assess the attractiveness of... View Details
      Keywords: Commercial Banking; Financial Crisis; Borrowing and Debt; Financial Strategy; Financing and Loans; Capital Structure; Forecasting and Prediction
      Related
      • 2024
      • Working Paper

      Does Pension Automatic Enrollment Increase Debt? Evidence from a Large-Scale Natural Experiment

      By: John Beshears, Matthew Blakstad, James J. Choi, Christopher Firth, John Gathergood, David Laibson, Richard Notley, Jesal D. Sheth, Will Sandbrook and Neil Stewart
      Does automatic enrollment into retirement saving increase household debt? We study the randomized roll-out of automatic enrollment pensions to ~160,000 employers in the United Kingdom with 2-29 employees. We find that the additional savings generated through automatic... View Details
      Keywords: Retirement; Saving; Personal Finance; Borrowing and Debt; Credit; Compensation and Benefits
      Related
      • January 2004 (Revised May 2005)
      • Case

      Gold Hill Venture Lending

      By: G. Felda Hardymon, Josh Lerner and Ann Leamon
      David Fischer is trying to raise $200 million for a first-time venture debt fund that will be affiliated with Silicon Valley Bank, a major technology lender. Despite his lengthy experience in venture lending, the process is proving difficult. He and his partners are... View Details
      Keywords: Information Technology; Value Creation; Venture Capital; Partners and Partnerships; Decision Choices and Conditions; Investment Funds; Banking Industry; Banking Industry
      Related
      • 07 Apr 2009
      • First Look

      First Look: April 7, 2009

      multinational firms requires a similar fortitude. Download the paper: http://www.hbs.edu/research/pdf/09-107.pdf Corporate Misgovernance at the World Bank Authors:Ashwin Kaja and Eric Werker Abstract We test for evidence of corporate... View Details
      Keywords: Martha Lagace
      • Research Summary

      Anti-Competitive Financial Contracting

      Joint work with Giacinta Cestone, Institut d'Analisi Economica, Barcelona

      This paper presents the first model where entry deterrence takes place through financial rather than product-market channels. In standard models of the interaction between product and... View Details